Hong-Kong listed shipping and logistics company, China COSCO Holdings Co (CCHC) has received subsidy amounting to$28.3 million from China COSCO Corporation, the indirect controlling shareholder of the company, for the decommissioning and upgrading of its vessels. The company explained that…
Nigeria in recession, minister admits
The Minister of Finance, Mrs Kemi Adeosun, has admitted that Nigeria’s economy is going through a recession. Speaking during plenary session at the Senate, the minister explained that the Federal Government is aware of the sufferings the recession may have…
Presco shareholders get N1billion dividend today
By Moses Ebosele – Proposal by the board of Presco Plc to pay a dividend of 100kobo per share, amounting to N1billion for the year ended December 31, 2015 has been approved by shareholders. Addressing shareholders yesterday during the company’s…
Lafarge records N28billion loss in Q2
By Moses Ebosele – For the second quarter ended June 2016, Lafarge Africa Plc has recorded a pre-tax loss of N28billion. In its report to the Nigerian Stock Exchange (NSE) yesterday, the company attributed the loss to dwindling foreign…
NSE partners Dangote Cement on price information scheme
By Moses Ebosele – The Nigerian Stock Exchange (NSE) has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service. The Issuers Share Price Information is an offering that enables companies listed on the…
Buhari appoints Ekere as MD of NDDC, Ndoma-Egba as Chairman
Former Deputy Governor of Akwa Ibom State, Nsima Ekere and Senator Victor Ndoma-Egba have been appointed by President Muhammadu Buhari as Managing Director and Chairman of Niger Delta Development Commission (NDDC) respectively. Already, their names have been forwarded to…
Turkey declares three months state of emergency
Turkey will impose a three-month state of emergency as the government pursues those responsible for a failed military coup, President Recep Tayyip Erdogan has said. Agency report quoted Erdogan as saying the country won’t be under military rule, with army…
NFF appoints Yusuf as Le Guen’s replacement
The Executive Committee of the Nigeria Football Federation (NFF) has named Salisu Yusuf as the new Super Eagles Head Coach following Frenchman Paul Le Guen’s rejection of the job. The News Agency of Nigeria (NAN) reports that the Technical and…
Minister insist on ports’ audit
By Moses Ebosele – The Minister of Transportation, Rotimi Amaechi has reiterated Federal Government resolve to audit operations and activities at the nation’s Seaports. Speaking in Abuja after a meeting with the management of Nigeria Shippers Council (NSC) and…
Expert cautions against mass retrenchment
By Moses Ebosele – AN economist, Matthew R. Otoide has challenged the Federal Government to ‘do everything within its power’ to stop ongoing retrenchment across the country. In a chat with City BusinessNews, Otoide explained that the development if…
UBA partners Mastercard on payments infrastructure
TO further consolidate on its activities, United Bank for Africa (UBA) has partnered Master Card on payment infrastructure across the Africa continent. The partnership which cuts across the 19 African countries in which UBA currently operates include Nigeria, Benin,…
BA crew threaten industrial action over performance scheme
Thousands of British Airways (BA) cabin crew are to vote on whether to take industrial action in a dispute over a performance management scheme described by one union rep as a “human resources fantasy project”. According to United Kingdom based…
PDP raises 82-member zoning committee
Ahead of another convention slated for August 17 in Port Harcourt, Rivers State, the Peoples Democratic Party (PDP) National Caretaker Committee has inaugurated an 82 member committee. The committee is expected to help design zoning of party positions to different…
Le Guen rejects Super Eagles job
Barely 24 hours after Nigeria Football Federation (NFF) appointed Paul Le Guen as the technical adviser for Nigeria’s Super Eagles, Le Guen has turned down the offer. NFF had on Monday announced Le Guen as the new technical adviser…